Garmin Ltd. (NYSE:GRMN) Shares Bought by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC grew its holdings in shares of Garmin Ltd. (NYSE:GRMN) by 3.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,610 shares of the scientific and technical instruments company’s stock after purchasing an additional 138 shares during the period. Kestra Private Wealth Services LLC’s holdings in Garmin were worth $593,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Wetzel Investment Advisors Inc. acquired a new position in Garmin during the 4th quarter valued at about $26,000. Headinvest LLC acquired a new position in shares of Garmin during the third quarter valued at approximately $41,000. Blue Trust Inc. raised its holdings in Garmin by 35.2% during the fourth quarter. Blue Trust Inc. now owns 380 shares of the scientific and technical instruments company’s stock worth $49,000 after purchasing an additional 99 shares in the last quarter. Turtle Creek Wealth Advisors LLC acquired a new stake in Garmin in the fourth quarter worth approximately $51,000. Finally, NBC Securities Inc. bought a new position in Garmin during the 3rd quarter valued at $57,000. Institutional investors and hedge funds own 73.41% of the company’s stock.

Garmin Stock Performance

Shares of NYSE:GRMN opened at $165.97 on Monday. The firm has a 50 day simple moving average of $145.23 and a 200 day simple moving average of $129.61. Garmin Ltd. has a 52 week low of $99.56 and a 52 week high of $166.43. The company has a market cap of $31.88 billion, a PE ratio of 23.41, a price-to-earnings-growth ratio of 5.44 and a beta of 0.99.

Garmin (NYSE:GRMN) last released its earnings results on Wednesday, May 1st. The scientific and technical instruments company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.42. The company had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.25 billion. Garmin had a return on equity of 17.26% and a net margin of 24.96%. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.02 earnings per share. On average, equities analysts predict that Garmin Ltd. will post 5.58 earnings per share for the current year.

Garmin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.81%. The ex-dividend date is Friday, December 13th. Garmin’s dividend payout ratio is currently 41.18%.

Analyst Upgrades and Downgrades

GRMN has been the subject of several research reports. Barrington Research raised their target price on Garmin from $119.00 to $140.00 and gave the company an “equal weight” rating in a research note on Thursday, February 22nd. Barclays lifted their price objective on shares of Garmin from $140.00 to $166.00 and gave the stock an “equal weight” rating in a research note on Thursday. Bank of America increased their target price on shares of Garmin from $120.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, April 3rd. JPMorgan Chase & Co. upped their price target on Garmin from $155.00 to $175.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Tigress Financial reissued a “strong-buy” rating and set a $175.00 price objective (up from $165.00) on shares of Garmin in a research note on Tuesday, February 27th. Six analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $153.50.

Insider Activity at Garmin

In other Garmin news, CEO Clifton A. Pemble sold 1,622 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $134.19, for a total value of $217,656.18. Following the completion of the sale, the chief executive officer now owns 159,319 shares in the company, valued at approximately $21,379,016.61. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Garmin news, Director Jonathan Burrell sold 15,000 shares of Garmin stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $148.89, for a total value of $2,233,350.00. Following the completion of the sale, the director now directly owns 653,834 shares in the company, valued at $97,349,344.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Clifton A. Pemble sold 1,622 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $134.19, for a total transaction of $217,656.18. Following the completion of the sale, the chief executive officer now directly owns 159,319 shares of the company’s stock, valued at $21,379,016.61. The disclosure for this sale can be found here. Over the last three months, insiders have sold 99,476 shares of company stock valued at $14,166,944. Corporate insiders own 19.89% of the company’s stock.

Garmin Company Profile

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices worldwide. Its Fitness segment offers running and multi-sport watches; cycling products; smartwatch devices; scales and monitors; and fitness accessories. This segment also provides Garmin Connect and Garmin Connect Mobile, which are web and mobile platforms where users can track and analyze their fitness, activities and workouts, and wellness data; and Connect IQ, an application development platform.